Argo Blockchain (NASDAQ:ARBK) Lowered to Neutral at HC Wainwright

HC Wainwright downgraded shares of Argo Blockchain (NASDAQ:ARBK) from a buy rating to a neutral rating in a research note published on Friday, Marketbeat.com reports.

Separately, Canaccord Genuity Group reiterated a hold rating and set a $1.45 target price on shares of Argo Blockchain in a report on Thursday, March 28th.

Argo Blockchain Trading Down 2.0 %

Shares of NASDAQ ARBK opened at $1.49 on Friday. The firm’s 50-day moving average is $1.80 and its two-hundred day moving average is $1.87. Argo Blockchain has a 12-month low of $0.92 and a 12-month high of $4.45. The company has a quick ratio of 0.59, a current ratio of 0.54 and a debt-to-equity ratio of 305.04.

Institutional Investors Weigh In On Argo Blockchain

A hedge fund recently raised its stake in Argo Blockchain stock. Redwood Wealth Management Group LLC increased its position in shares of Argo Blockchain plc (NASDAQ:ARBK) by 33.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,755 shares of the company’s stock after acquiring an additional 19,300 shares during the quarter. Redwood Wealth Management Group LLC owned approximately 0.13% of Argo Blockchain worth $287,000 as of its most recent filing with the SEC. 2.42% of the stock is currently owned by institutional investors and hedge funds.

Argo Blockchain Company Profile

Argo Blockchain plc, together with its subsidiaries, engages in the bitcoin and other cryptocurrencies mining business worldwide. It engages in mining purpose-built computers for complex cryptographic algorithms. The company was formerly known as GoSun Blockchain Limited and changed its name to Argo Blockchain plc in December 2017.